JP Morgan Lists FGN Bonds In New Emerging Markets Index
The inclusion could draw $17.5 billion into Nigeria’s debt market and may lower bond yields by up to 200 basis points, the minister said.
- On Monday in Abuja, Finance Minister Taiwo Oyedele announced that Morgan has readmitted Federal Government of Nigeria bonds into its newly created emerging-market bond index.
- Nigeria returns to the global index after an 11-year absence, marking the country's first readmission to a Morgan benchmark since 2015 when foreign exchange liquidity constraints forced its removal.
- The inclusion is expected to attract approximately $17.5 billion into Nigeria's debt market and could reduce bond yields by up to 200 basis points, improving visibility among international investors.
- "And to those who have invested in FGN Series 2, that's the silver lining," the Minister said, highlighting benefits for existing bondholders from the readmission.
- Nigeria seeks to deepen its domestic capital market and reduce borrowing costs through this inclusion, which increases visibility of Federal Government securities among international fixed-income investors.
22 Articles
22 Articles
Nigeria enters JPMorgan’s new $328 billion bond index 11 years after removal from flagship benchmark
Nigeria has been included in a new JPMorgan index tracking approximately $328 billion in local-currency government debt, marking its return to one of the bank’s bond benchmarks 11 years after it was removed from a different flagship index.
Channels Television
The Podium MediaJP Morgan Lists FGN Bonds In New Emerging Markets Index
The Federal Government has announced the listing of selected Federal Government of Nigeria (FGN) Bonds in J.P. Morgan’s newly introduced Government Bond Index–Emerging Markets Edge (GBI-EM Edge), describing the development as a significant recognition of the country’s economic reforms and growing investor confidence.
JP Morgan adds FGN bonds to emerging markets index
JPMorgan has announced the inclusion of selected Federal Government of Nigeria, FGN, bonds in its newly introduced Government Bond Index–Emerging Markets Edge (GBI-EM Edge). The Minister of Finance, Taiwo Oyedele, disclosed this in a statement on Monday. Oyedele said the move reflects improvements in Nigeria’s economic environment following reforms that have helped stabilise the naira, clear […] JP Morgan adds FGN bonds to emerging markets index
Vanguard News
Nigerian News. Latest Nigeria News. Your online Nigerian Newspaper.J.P. Morgan returns Nigeria to bond index after 11 years
…$17.47bn FGN debt eligible…Nigeria gets 7.4% weighting By Emma Ujah, Abuja Bureau Chief ABUJA — Nigeria is set to attract fresh foreign capital into its domestic debt market following the decision by global investment banking giant, J.P. Morgan, to return Federal Government of Nigeria (FGN) bonds to its bond index under the newly introduced Government […]
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